Bitgamo to Bring 75 Crypto ATMs to Europe in 2024
Bitgamo, a prominent cryptocurrency exchange, has announced plans to set up 75 crypto ATMs across Europe in 2024. These ATMs will allow users to sell cryptocurrencies for cash, offering the best market rate in the industry. Bitgamo has gained significant traction in the global crypto market, especially after addressing the long-standing need for a no-KYC crypto to fiat conversion. In addition to this, the exchange provides rates up to 10% higher than prevailing market rates for popular crypto assets like Bitcoin, Litecoin, and Ethereum.
Expansion Plans and Features
Bitgamo’s Director of Communications, Gabriel Weber, stated that the company has achieved important milestones and is now ready for the next stage of growth. The upcoming ATMs will be stand-alone electronic kiosks, ensuring privacy and accessibility for users. Bitgamo has also enlisted a third-party network to redistribute cryptocurrencies to regions with unfavorable government policies on crypto. The platform has received positive customer reviews, emphasizing its seamless and quick transactions, along with its privacy features.
‘BTMs’ in Europe
According to Coin ATM Radar, Europe currently has 934 crypto ATMs operated by ten different operators. This accounts for 63.4% of the total, with the remaining 36.6% contributed by 539 ATMs operated by 127 other operators. Kurant Bitcoin ATM service and Shitcoins Club are the leading operators, with 15.9% and 15.1% of the market share, respectively. However, the United Kingdom has tightened regulations on non-registered ATMs due to a lack of regulatory structure, impacting the crypto ATM market in the country.
Hot Take: Bitgamo Expanding Crypto ATM Network in Europe
Bitgamo’s plan to install 75 crypto ATMs across Europe in 2024 reflects the growing demand for convenient and secure crypto-to-fiat conversion services. By offering the best market rate and prioritizing user privacy, Bitgamo aims to meet the needs of crypto enthusiasts in the region. The positive reviews and customer satisfaction on platforms like Trustpilot further enhance Bitgamo’s reputation in the market. However, the regulatory challenges faced by the crypto ATM industry, particularly in the United Kingdom, highlight the need for clearer guidelines and a robust regulatory framework to ensure the smooth operation of these services.
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